Pet Valu (TSE:PET) Sets New 52-Week High - Here's Why

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$34.10 and last traded at C$34.00, with a volume of 24876 shares trading hands. The stock had previously closed at C$33.54.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PET shares. Royal Bank Of Canada increased their target price on shares of Pet Valu from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. National Bankshares set a C$33.00 price objective on shares of Pet Valu and gave the company an "outperform" rating in a report on Thursday, June 5th. ATB Capital increased their price objective on shares of Pet Valu from C$39.00 to C$40.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Cormark upgraded Pet Valu from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, May 7th. Finally, Stifel Canada upgraded Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pet Valu presently has a consensus rating of "Buy" and an average price target of C$34.33.

Pet Valu Price Performance

The company has a market cap of C$2.39 billion, a PE ratio of 27.76 and a beta of 0.81. The company has a 50-day moving average price of C$31.05 and a two-hundred day moving average price of C$27.38.

Pet Valu Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were given a $0.12 dividend. This is a positive change from Pet Valu's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. Pet Valu's dividend payout ratio (DPR) is 36.27%.

Pet Valu Company Profile

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.